Starbucks China attracts bids at up to $10 billion valuation, CNBC reports
Asia-based private equity firms Centurium Capital and Hillhouse Capital as well as U.S. peers Carlyle Group (CG.O), opens new tab and KKR & Co (KKR.N), opens new tab are among the contenders vying for a stake in Starbucks' China business, the report added.
There is a possibility of Starbucks retaining a 30% stake, with the rest split among a group of buyers, each holding less than 30%, the CNBC report said.
Starbucks, Centurium, Hillhouse, Carlyle and KKR did not immediately respond to Reuters requests for comment.
Reuters could not immediately verify the report.
Starbucks said last month that it is not currently considering a full sale of its China operations, after the coffee maker kicked off a formal sale process of its China operations in May.
Almost 30 domestic and foreign private equity firms in China have submitted non-binding offers and Starbucks is in the process of evaluating the offers, deal structure proposals and value creation pitches from the bidders, the report said.
The bidders could be shortlisted within two months, but the entire deal is unlikely to be completed by the end of this year, CNBC said.
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